Posted on 07/01/2025 12:35:21 PM PDT by DFG
Indonesian officials said on Monday they will begin easing import restrictions and licensing requirements ahead of the July 9 deadline for U.S. tariff negotiations.
Members of President Prabowo Subianto’s government promised to deregulate, streamline the bureaucracy, and reduce non-tariff import barriers as part of trade negotiations with the United States.
At a press conference on Monday, Coordinating Minister for Economic Affairs Airlangga Hartarto said restrictions would be eased on ten groups of commodities over the next two months.
“There are measures we’ve already implemented, and others will depend on the outcome of the tariff negotiations,” he said.
Airlangga also said Subianto’s government has extended an offer to the U.S. for joint investment in a critical minerals project, which would provide nickel, copper, and minerals useful to the “electric vehicle ecosystem.”
“For America, what Indonesia offers is quite interesting,” he said.
Airlangga said he has been speaking directly with U.S. Treasury Secretary Scott Bessent, who has agreed to several of Indonesia’s offers in principle. At the press conference, Indonesia’s ministers highlighted plastic and chemical products, fertilizer, and forestry items as examples of products that would become easier to import.
Indonesia is the largest economy in Southeast Asia, and the United States is one of the top three customers for Indonesian goods, importing about $26.3 billion last year. U.S. exports to Indonesia are relatively modest, leading to a $16.8 billion trade surplus for Indonesia.
Indonesia’s trade policy has been nakedly protectionist, with high tariffs, heavy import restrictions, and notoriously poor logistics hindering imports.
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Thank you very much and God bless you.
Just import a million Gaza’s and call it even.
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